STARWOOD CAPITAL SELLS 80% STAKE IN SPANISH PORTOFLIO

Starwood Capital has sold its interest in four beachfront hotels (with a total of 2,096 keys) across Spain to London & Regional for €250 million. The private investment firm owned an 80% stake the hotels in a joint venture with Melià Hotels International. Melià will retain its 20% interest in the portfolio and will continue to operate the 799-room Sol Principe in Malaga, the 343-room Sol Lanzarote, the 254-room Sol House Ibiza and the 700-room Sol Palmanova in Mallorca